SME Updates     25-Jun-24
IPO News
NSE SME IPO of Akiko Global Services subscribed 91%
The offer received bids for 27.52 lakh shares as against 30.01 lakh shares on offer.
The initial public offer (IPO) of Akiko Global Services received bids for 27,52,000 shares as against 30,01,600 shares on offer, as per NSE data as of 17:00 hours on Tuesday (25 June 2024). The issue was subscribed 0.67 times.

The issue opened for bidding on Tuesday (25 June 2024) and it will close on Thursday (27 June 2024). The price band of the IPO is fixed between Rs 73 to Rs 77 per share. The minimum order quantity is 1,600 equity shares. The equity shares will list on NSE’s SME platform.

The IPO comprises fresh issue of 30,01,600 equity shares. The promoter and promoter group shareholding will dilute to 66.91% from 92.77% Pre-issue.

About 1,50,400 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 28,51,200 equity shares. The issue and the net issue will constitute 29.40% and 26.47% respectively of the post offer paid up equity share capital of the company.

The company intends to utilize the net proceeds to meet working capital requirements, implementation of ERP solution and TeleCRM, funding mobile application for financial product solution, enhancing visibility and awareness of its brands, including but not limited to “Akiko Global” or “Moneyfair, to meet issue related expenses and general corporate purpose.

Ahead of the IPO, Akiko Global Services on Monday, 24 June 2024, raised Rs 6.57 crore from anchor investors. The board allotted 8.54 lakh shares at Rs 77 per share to 4 anchor investors.

Akiko Global Services is working as a channel partner (DSA) for major Banks or NBFCs. The company’s business model involves tele-calling, corporate activities, as well as a feet-on-street and digital marketing model to acquire customers digitally. The firm’s proficiency lies in the field of credit cards and loans, empowering to offer extensive guidance and assistance to individuals and businesses as they navigate the expansive landscape of financial products. As on 30 April 2024, the company has 418 permanent employees.

The company recorded revenue from operations of Rs 25.90 crore and net profit of Rs 3.21 crore for the period as on 31 January 2024.

Previous News
  NSE SME Akiko Global Services lists at premium
 ( Hot Pursuit - 02-Jul-24   13:50 )
  NSE SME Akiko Global Services' IPO ends with 25 times subscription
 ( SME Updates - IPO News 28-Jun-24   13:59 )
  NSE SME IPO of Akiko Global Services subscribed 91%
 ( SME Updates - IPO News 25-Jun-24   17:19 )
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